[DISCUSSION] BitDAO Burn Tokens

Ideas for a good approach would be either:
Tie the burning rate to the platform’s activities, the more people use it, the more frequent they use it, the more tokens it burns.
or
The DAO can voluntarily burn tokens if available in the treasury.
All and all, I believe it’s better to create incentives for holders to hold on their tokens by giving it utilities, rather than purely reducing supply.

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This is quite important, especially under the current market environment

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need to burn tokens now

Please be responsible to the community, when the price dropping then ask for burn token, then when the price rising happened?

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When the price rising, everyone happy. still can keep burning

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So are you the one who contribute with fund to makes everyone happy?

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Seems Bybit Ben is going to contribute with fund to makes everyone happy

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later burn and sell the token at the same time

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This is wrong advice. You only see the positive and don’t consider the bad. Token holders have no interest in platform activities, and the platform will not make more concessions for bitdao. Let me tell you what might happen: Fewer people are at the event, and burning is less efficient.
Also the DAO will never voluntarily burn their tokens,history has proved it all.Burning operations must be enforced publicly.

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Yes that great step to increase the value but need to remember beside burning the supply we have to grow the community too

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I like the general idea but feel a more specific plan needs to be laid out. Would we be burning tokens in the treasury or doing some kind of buyback of outstanding tokens where a portion are burned? Who specifically would carry out the burn, the community, a specific entity, or an algorithm? More concrete details are needed.

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I think perhaps the community should organize a committee or working group to discuss the pro’s and con’s of a token burn. important to consider both sides and currently not enough people are pointing out some of these potential negatives of a token burn @Norton has brought up.

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